Tourism is the sector that will test the economy of Albania this year. For the World Bank, the challenge lies in managing the sector, with competitive workforce, services and wages.

The economic growth based on tourism and real estate, for the World Bank, is a challenge for Albania, so that this progress can be followed in other branches, so as not to get stuck in economic stagnation.

In the latest report that analyzes the economy of Albania, the Washington-based institution emphasizes the crisis that the labor market is experiencing, especially in conditions where the increase in wages has not been accompanied by an increase in productivity.

In 2023, the Bank has seen a slowdown in employment, although in the region, Albania recorded the largest increase in relation to other countries. An upward trend in wages has also been noticed as a result of price adjustments.

During the presentation of the report on Albania, the World Bank also commented on the government’s initiative to ease the tax burden for high salaries, suggesting a reform of the tax administration, which would encourage taxpayers to declare salaries correctly.